Today we again encountered a price dump. This is not something extraordinary. Honestly saying if you watch from the bigger perspective it is barely visible.
We have prepared today a big picture of the BTC price – since 2013. This is all on the log scale. It will help us to understand fluctuations and see that current correction is a normal thing.
So at the end of 2013, we had a massive growth on BTC price – 900% in just 60 days. After that long correction has started and many said that BTC was dead, it was worth zero and would never recover. They were all wrong.
As we can see it was a long-lasting which means we can expect to have a rally once price moves to the end and there is enough to jump up of this . That happened after 622 days. At the end of this time frame, we were in the horizontal channel. We call this boring channel.
Low , low in general boring.
But finally in the middle of August 2015 bull run has started.
We would say the growth was rather moderate. The angle of this trend was at 24 degrees which is far from 45 degrees (according to Gann’s theory 45 degrees is perfect as the time and the price move in the same pace). Above 45 degrees money goes faster and up which mean increase of the bubble. Below 45 degrees money goes faster and down which mean sell-off.
So at the end of the March 2017, our 24 degrees trend has changed into 54 degrees trend. Which means we grew 2 times higher. It all ended at the end of the year when BTC achieved $ 20 000.
Since the beginning of the year 2018, we are in the again. This time it is a bit sharper compared to this one in 2013-2015. It means that its sites/flanks will cross much faster. At the end of the , with a help of positive , the price should jump out of the heading north.
We are currently in the so-called boring channel which means we don’t fall significantly lower but there is no rally up either.
All we need is an impulse from the market hitting the price well above $6800 meaning we should break the previous peak.
So Guys. Don’t worry. The state in which we are currently is perfectly normal. Look back at the chart. It happened before and we managed to recover. It will happen this time for sure.
Don’t panic stay calm and don’t sell your BTC .
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My theory is based on several months ...
The break of the critical area, there will be possibilities to happen as foreseen in the monthly/weekly chart ... Fib. 0.786
Given the previous top at $ 1200, but I believe it does not reach this level ...